Won-Young Yoon completed the acquisition of 29.36% stake in Ildong Pharmaceutical Co., Ltd. from Green Cross Corp., Green Cross Holdings Corporation and Green Cross Cell corporation.
July 28, 2015
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Won-Young Yoon signed an agreement to acquire 29.36% stake in Ildong Pharmaceutical Co., Ltd. (KOSE:A000230) from Green Cross Corp. (KOSE:A006280), Green Cross Holdings Corporation (KOSE:A005250) and Green Cross Cell corporation (KOSDAQ:A031390) for approximately KRW 140 billion on May 29, 2015. Won-Young Yoon will acquire 7.36 million shares of Ildong Pharmaceutical Co., Ltd at KRW 19000 per share. Green Cross will sell 6.89 million shares for KRW 130.9 billion, Green Cross Holdings Corporation will sell 0.22 million shares and Green Cross Cell corporation will sell 0.25 million shares of Ildong Pharmaceutical Co., Ltd for KRW 4.75 billion. The transaction is resolved by the Board of Directors on May 29, 2015. The transaction is expected to complete on the date agreed by the parties involved or on July 29, 2015.
As of July 29, 2015, Won-Young Yoon in the share transaction contract signed on May 29, 2015, transferred the rights and obligations on July 29, 2015 to Sunrise Holdings Co., Ltd. and Invest Sun Co., Ltd. Ernst & Young, Korea acted as accountant for Sunrise Holdings Ltd. and Invest Sun Co., Ltd.
Sunrise Holdings Co., Ltd. and Invest Sun Co., Ltd. completed the acquisition of 29.36% stake in Ildong Pharmaceutical Co., Ltd. (KOSE:A000230) from Green Cross Corp. (KOSE:A006280), Green Cross Holdings Corporation (KOSE:A005250) and Green Cross Cell corporation (KOSDAQ:A031390) on July 29, 2015. Green Cross Corp. sold 5.01 million shares to Sunrise Holdings and 1.88 million shares to Invest Sun Co., Ltd. Green Cross Holdings Corporation sold 0.22 million shares to Invest Sun Co., Ltd. Green Cross Cell corporation sold 0.25 million shares to Invest Sun Co., Ltd.
Green Cross Holdings Corp is a Korea-based investment holding company principally engaged in the manufacture and distribution of pharmaceuticals. The Companyâs products portfolio consists of prescription drugs, blood derivatives, vaccines, cerebrovascular disease treatment, hunter syndrome drugs, as well as over the counter (OTC) drugs, such as skin disease treatment drugs, allergic cream and others. Its products are used for analgesic, treatment of cerebral thrombosis, hypoalbuminemia, genodermatosis and others, as well as prevention of influenza, prophylaxis of varicella, among others. The Company is also involved in the real estate sales and leasing, as well as construction business.
Won-Young Yoon completed the acquisition of 29.36% stake in Ildong Pharmaceutical Co., Ltd. from Green Cross Corp., Green Cross Holdings Corporation and Green Cross Cell corporation.
GREEN CROSS HOLDINGS CORPORATION 